The Force Index Metatrader 4 Forex indicator was developed by Alexander Elder. The Force index measures Bulls power against Bears power.
The indicator, once activated pops up on the main MT4 chart in the form of a blue colored signal line.
According to the developer, it’s recommended to combine the Force Index indicator with a moving average.
When price trades above the moving average, only trade the bullish Force Index signals.
Likewise, when price trades below the moving average, only trade the bearish Force Index signals.
Just load the Force Index Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- Trend is considered bullish when the Force Index signal line turns back above the 0.00 neutral level.
- Trend is considered bearish when the Force Index signal line turns back below the 0.00 neutral level.
- Combine with a longer-term moving average for better trend prediction.
Feel free to explore the Force Index Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “Force_Index.ex4” Metatrader 4 indicator
Force Index Forex Indicator Chart (USD/JPY H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Force Index MT4 Indicator
Buy Signal: Go long when the blue colored Force Index line crosses above the zero-signal level and the overall trend is up.
Set your stop loss below the previous swing low, or use your own favorite stop loss strategy.
Exit the buy trade whenever the Force index line crosses back below the 0.00 level.
Sell Signal: Go short when the blue colored Force Index line crosses below the zero-signal level and the overall trend is down.
Set your stop loss above the previous swing high, or use your own favorite stop loss strategy.
Exit the sell trade whenever the Force index line crosses back above the 0.00 level.
Tips
The Force Index indicator is able to fit into the needs of scalpers, day and swing traders alike.
Don’t use it as standalone technical tool, instead, combine it with a moving average type indicator (SMA, EMA,…).
Download This Forex Indicator Now
Download the “Force_Index.ex4” MT4 indicator
Adjustable Parameters
Force period, Force MA method, Force applied price.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Bulls/Bears
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
